Drobyshevsky Sergey M.

Tel.: (495) 629-47-13
E-mail: dsm@iep.ru

Having graduated from Bauman Moscow State Technical University, diploma cum laudae in 1996, Sergey consequently earned his MA in economics at the Higher School of Economics (1996) and Erasmus University of Rotterdam (1996) and earned his PhD from the Institute of World Economy and International Relations (2000).
Doctor's dissertation "Theoretical and Methodological Approaches to the Monetary Policy in the Russian Federation" was defended at the Dissertation Council DM 520.011.01 of the Gaidar Institute for Economic Policy (14 July, 2011).

Drobyshevsky recent training and research background also comprises:

• IET-CEPRA Project on Regional Development in Russia
• IET-TACIS Project 'Strategy of Economic Development of Kaliningrad Region for 15 years'
• IET-CSD Working group on Tax and Public Expenditure, and Capital Control Reforms for the RF Ministry of Finance and the RF Ministry of Economic Development and Trade
• IET-KNOW-HOW Fund 'Regional Financial Project'
• Perspectives on Revival and Development of the Russian capital market (Cadogan Financial, Ltd.)
• USAID-IET Projects 'Modelling the System of Financial Indicators in Russia', 'Macroeconomic and Institutional Problems of Financial Crisis in Russia and Post-Crisis Development. Policy Advice', 'Analysis of macroeconomic and institutional problems of financial crisis in Russia. Interactions between financial and real sectors. Development of a programme aiming at the crisis overcome and financial stabilisation', 'Monetary policy in the post-crisis economy'.
• PhD course in Tinbergen Institute (Rotterdam, the Netherlands), TACIS Programme.
• Russian Fund for Legal Reforms grant on research 'Legal Support of Economic Reform (Financial Markets)'
• IET-KNOW-HOW Fund Programme, Training at University of Birmingham, Department of Economics (U. K.)
• IET-KNOW-HOW Fund Programme, Training at Inland Revenue (London, U. K.)
• Training in banking and international finance at Amsterdam Academy of Banking and Finance (Amsterdam, the Netherlands).
• 'LogoVAZ' grant on research 'The Real Exchange Rate of the Ruble in 1992 - 1995'.
• Ministry of Economy of Russia, Department of Structural Policy.
• Festo Didactic KG, Department of Marketing (Esslingen, Germany).

Since 1996, Sergey Drobyshevsky has joined IET as Researcher, Department of Macroeconomics and Finance 

Professional Interests

• Macroeconomic analysis of the Russian economy
• Monetary policy, inflationary processes, exchange rate regimes, public debt management, banking.
• Russian financial markets and financial crises.
• Econometrics and time-series analysis.
• Monthly and annual overviews on macroeconomy, monetary policy and financial markets in Russia

Publications

• Sections on macroeconomy, monetary policy and financial markets in Russian Economy. Trends and Perspectives - the IET Annual Overviews of the Russian economy (for 1996 to 2000).
• 'Problems of financial indicators modelling: prices, exchange rate, interest rate, stock index in the Russian economy' (with R. Entov, S. Arkhipov, O. Lougovoy, G. Trofimov)
• 'Macroeconomic and institutional issues of financial crisis in Russia' (with R. Entov, S. Sinelnikov et al.)
• 'Analysis of macroeconomic and institutional problems of financial crisis in Russia, development of a programme aimed at its overcoming and financial stabilisation. Interaction between financial indicators and some characteristics of real sector' (with R. Entov, S. Sinelnikov et al.)
• 'Moscow debt management in 1999 through 2003' (with A. Shadrin)
• Monetary policy and expectations hypothesis at the Russian Treasury bills market. LACEA V Annual Meeting. Papers and Proceedings (October 12-14, 2000, Rio de Janeiro, Brazil).
• 'Impact of capital control on the GKO market volatility' in Financial Crisis and Government Debt. Moscow: IFS, 1999.
• 'The crisis of the financial system in Russia', Problems of Economic Transition, 41, 1999, pp. 7-44 (with S. Sinel'nikov, S. Arkhipov, S. Batkibekov, I. Trunin)
• 'Modelling inflation in 1992 to 1997', 'Modelling of inflation dynamics and liquidity effect in the GKO/OFZ market', 'Leading indicators of the Russian 1998 financial crisis', 'Monetary policy and term structure of GKO yields' in Economy in Transition. Essays on Economic Policy of Post-Communist Russia 1991-1997. Moscow: IET, 1998. Forthcoming in MIT Press.
• 'Analysis of the rouble real exchange rate dynamics (1992-1996)', Problems of Forecasting, 5, 1997, pp. 93?103. Reprinted in Studies on Russian Economic Development.
• A communist government in post-communist Russia: the first results and some possible prospects. Working Papers Series # 10R. (with Ye. Gaidar, S. Arhipov, S. Batkibekov, M. Dmitriev, S. Sinelnikov, V. Stupin, I. Trunin, A. Yudin)  Moscow, IET, 1999.
• A review of contemporary theories of the time structure of interest rates. Major hypotheses and models. Working Papers Series # 14R. - Moscow, IET, 1999.
• Analysis of the GKO market: The term structure approach. IET Working paper, 17R (1999).
• Development of the Russian Financial Market and New Investments Instruments (with R. Entov,A. Radygin, V. Mau. S. Sinelnikov et al.). Moscow: IET, 1998.
• The article in Proceedings of the IET international conference "Post-communist Russia in the context of the world socio-economic development". Working Papers Series # 26R. - Moscow, IET, 2001.
• Prospects for establishment of stabilization fund in RF. Working Papers Series # 27R. (with P. Kadochnikov, S. Sinelnikov, A. Zolotareva) - Moscow, IET, 2001.
• Some problems in the area of credit and monetary policy in the transitional economy. (with P. Kadochnikov, S. Sinelnikov, A. Zolotareva, I. Trunin, R. Entov, E. Ershova, S. Prihodko) Working Papers Series # 28R.  - Moscow, IET, 2001.
• Econometric analysis of dynamic series of fundamental macroeconomic indices. Working Papers Series # 34R. (with V. Nosko, R. Entov, A. Yudin) - Moscow, IET, 2002.
• The internal aspects of Russia’s monetary policy. Working Papers Series # 45R. (with A. Kozlovskaya) - Moscow, IET, 2001.
• A comparative analysis of monetary policies in economies in transition. Working Papers Series # 58R. (with A. Kozlovskaya, D. Levchenko, S. Ponomarenko, P. Trunin, S. Chetverikov) - Moscow, IET, 2003.
• Investment Behavior of Russian Enterprises. Working Papers Series # 65R. (with A. Radygin, I. Gorshunov, O. Izryadnova, A. Ilyin, G. Malginov, M. Turuntsseva, S. Tsukhlo, I. Shkrebela) - Moscow, IET, 2004.
• Evolyutsiya byudzhetnoy politiki Rossii v 2000-ye gody: v poiskakh finansovoy ustoychivosti natsional'noy byudzhetnoy sistemy / Soavt.: S. Sinelnikov-Murylev, I. Sokolov // Voprosy ekonomiki, № 1, 2011. 1,75 p.l. [In Russian only]
• Sergey Drobyshevsky. Russian Sovereign Wealth Funds // Sovereign Wealth Funds: New challenges for the Caspian countries / Revenues Watch Institute. Baku, 2011. P. 130–158.
• Kolichestvennyye izmereniya denezhno-kreditnoy politiki Banka Rossii. M.: Izdatel'stvo "Delo" RANKHiGS, 2011. 392 p. [In Russian only]
• Macroeconomic Preconditions of the Realizations of a New Growth Model / Co-author: S. Sinelnikov-Murylev // CASE Network Studies & Analyses, No. 450/2013. 30 p.
• A View on Russian Economy Mid-term Perspectives // The World Financial Review, November-December 2013. Р. 38-40.
• The Decomposition of Russia's GDP Growth Rate in 1999–2015//Russian Economy in 2014. Trends and Outlooks. (Issue 36)/Co-authors: M. Kazakova. М.: Gaidar Institute Publishers, 2015. p 193-200.
• Glava 8. Vyzovy i problemy razvitija bankovskoj sistemy v Rossijskoj Federacii v 2014 g. / Co-authors: S.M. Drobyshevskij, S.G. Sinel'nikov-Murylev // Monograph: Modernizacija bankovskoj sistemy RF: trendy i instrumenty razvitija / Pod red.: prof. V.S. Zolotareva, prof. L.N. Usenko, doc. I.V. Rybchinskoj. M.: "Finansy i statistika", 2015. P. 113–135. [In Russian only]
• On-line monitoring of Russia’s economic environment / Editorial board: S. Drobyshevsky, P. Kadochnikov, V. Mau, S. Sinelnikov-Murylev. M.: Gaidar Institute, RANEPA, RFTA; 2015-2016.
• The Decomposition of Russia's GDP Growth Rate in 2015–2016//Russian Economy in 2015. Trends and Outlooks. (Issue 37)/ Co-authors: M. Kazakova. М.: Gaidar Institute Publishers, 2016. p 186-193.
• Decomposition of growth rates for the Russian economy / Co-authors: Sergey Drobyshevsky, Georgy Idrisov, Andrey Kaukin, Pavel Pavlov, Sergey Sinelnikov-Murylev // Russian Journal of Economics. 2018. No.4. P.305–327.
• Factors of global inflation in 2021–2022 / Co-authors: Eugene L. Goryunov, Sergey M. Drobyshevsky, Alexey L. Kudrin, Pavel V. Trunin // Russian Journal of Economics. 2023. №9. p.219–244.

Scientific editing

• On-line monitoring of Russia’s economic environment / Editorial board: S. Drobyshevsky, P. Kadochnikov, V. Mau, S. Sinelnikov-Murylev. M.: Gaidar Institute, RANEPA, RFTA; 2015-2016.

Languages

• English
• German
• French